Tractor Supply (NASDAQ:TSCO) Shares Acquired by Anchor Investment Management LLC

Anchor Investment Management LLC increased its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 393.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,465 shares of the specialty retailer's stock after purchasing an additional 31,467 shares during the period. Anchor Investment Management LLC's holdings in Tractor Supply were worth $2,094,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TSCO. Vanguard Group Inc. grew its stake in shares of Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Tractor Supply by 401.8% in the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock valued at $1,262,258,000 after purchasing an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after buying an additional 17,834,643 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Tractor Supply by 403.2% in the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock valued at $768,838,000 after purchasing an additional 11,634,249 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Tractor Supply by 391.0% during the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock worth $574,197,000 after acquiring an additional 8,617,869 shares during the period. Institutional investors own 98.72% of the company's stock.

Tractor Supply Trading Down 1.3 %

TSCO stock traded down $0.64 during midday trading on Monday, reaching $49.52. 741,939 shares of the company traded hands, compared to its average volume of 5,094,730. The firm has a market capitalization of $26.33 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 2.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The business has a 50 day moving average of $53.74 and a 200-day moving average of $55.07. Tractor Supply has a 52-week low of $46.97 and a 52-week high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. As a group, sell-side analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.43%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSCO. Mizuho upped their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Barclays lowered their target price on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Bank of America raised their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an "underperform" rating in a research note on Thursday, January 16th. Guggenheim reiterated a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Stephens assumed coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Tractor Supply currently has an average rating of "Moderate Buy" and a consensus price target of $59.07.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the completion of the transaction, the executive vice president now owns 33,645 shares in the company, valued at approximately $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 over the last 90 days. Company insiders own 0.65% of the company's stock.

Tractor Supply Company Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.